Revenue
Product
THIS™ IS WHAT WE MAKE
THIS™ does not play around when it comes to their research and development. The Company is investing £3M into an R&D center (so called 'animal retirement home’), to be completed this summer. Their Innovation team includes 3 PhDs, several engineers, food technologists, and project managers. According to the Company, they make their plant-based food so close to real meat products, that consumers would often write in after a THIS™ meal and not realize that THIS™ is not animal-based meat. All products are fortified with vitamin B12 and iron, so everyone has a great meal without nutrient FOMO either.
"We even had a 2 star review on a supermarket site last wk from a lady called Laura, because ‘..the sausages mimic the taste and texture of pork and it’s off-putting for vegetarians’. Cheers Laura." — THIS™.
THIS™ makes food so good they wanted to patent it. No, seriously. THIS™ has filed 3 patents in total, most notably for FAT 2.0™, their plant-based version of animal fat, using olive oil as the predominant ingredient.
As they wait for their patent approval, THIS™ picked up some awards. Just because...
Traction
According to the team, it is getting increasingly difficult to walk into a place where food is present in the UK and not see a THIS™ product. THIS™ is winning in foodservice, having partnered with a wide selection of the UK’s most well-known chains, like Caffé Nero, Honest Burger, Premier Inn, Prezzo, ASK etc.
Around 95% of THIS™ foodservice partners call the Company out by name on their menus. That helps raise the brand-awareness, and compliments the retail range too.
Say you are staying in for a home cooked meal? Drum up some delicious THIS™ caramelized onion sausages and surf the news to read more about THIS™ — the Company is all over the press. The omnipresence makes THIS™ front-and-center of customers' mind, fortifying its status as the fastest growing plant-based food brand in the UK.
Awards
THIS™ makes food so good they wanted to patent it. No, seriously. THIS™ has filed 3 patents in total, most notably for FAT 2.0™, their plant-based version of animal fat, using olive oil as the predominant ingredient.
THIS has also won countless awards for Innovation, taste and Marketing.
Customers
1 in 5 people in the UK has heard of THIS™
Take a walk through THIS™'s website and you may see why consumers love THIS™. Whoever works there seems like they might just be a couple of fun blokes to hang with — THIS™ and their consumers are always having a good time.
Prefer to meet in real life? So does the THIS™ team! With most of their explosive growth happening during the pandemic, THIS™ is just getting started with getting their products out there. Next time you are at a game, question your taste buds when you order a hot dog. THIS™ might not be meat, not that THIS™ is anything to complain about.
Market
Whether you eat meat, there is no denying that the plant-based market is growing. Exponentially. According to a Kantar survey, 55% of British consumer want to reduce their meat consumption, and 79% of younger people aspire to go meatless once or twice per week. Accordingly, the plant-based market is growing at 17.4%, twice as fast as the meat market. This is not to mention the market outside the UK, which is undoubtedly next in THIS™'s roadmap for attempting to dominate. Think Europe, and also US.
Not only is THIS™ quietly enjoying the market growth, the Company is actively growing the category. Consumers previously without exposure to plant-based products are extremely more likely to purchase them again upon trying THIS™. THIS™ happens when you have 3 PhDs and a £2M R&D center making your food.
Competition
THIS™ is the fastest growing plant-based food brand in the UK, with 333% YoY growth in UK retail in 2021, triple the growth rate of the next fastest competitor (some of them are losing market share, wonder where THIS™ is going).
Vision and strategy
THIS™ has a clear vision for growth. Beyond what has already been said so far about its product development and marketing, the Company has a clear vision in mind when it comes to increasing their margin:
- After 9 months of negotiating, THIS™ signed a contract in February 2022 with a UK based manufacturer who will produce a significant proportion of their volume moving forward. The contract has pricing baked into it, unlocking significant GP% savings.
- THIS™ has elected to not build their own factories, to keep their agility and save on capex costs.
- THIS™has invested in buying their key manufacturing equipment, housed and operated exclusively for THIS™ by their new UK manufacturing, promising to further cut down costs.
- This has only had a procurement function for 5 months. Due to their explosive growth, THIS™ hopes for this procurement function to help them pick better raw ingredients, at even a lower cost.
Use of funding
Founders
The Company is also recruiting. Having fun checking this page out? Come join, they are growing fast and not shy about wanting more folks!
Disclaimers
In addition to the carried interest Republic Deal Room Advisor LLC is entitled to for the syndicated investments it organizes, certain principals of Republic Deal Room Advisor LLC may have a personal interests in these investments, as disclosed below. When making an investment decision please review any applicable disclosures as they represent pre-existing financial interests held by those principals of Republic Deal Room Advisor LLC.
We do not represent that the information contained herein is accurate or complete, and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. Certain information contained herein (including any forward-looking statements and economic and market information) has been obtained from and/or prepared by the Company or other third-party sources and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Republic Deal Room Advisor LLC does not assume any responsibility for the accuracy or completeness of such information. Republic Deal Room Advisor LLC does not undertake any obligation to update the information contained herein as of any future date.